This is the X-Launcher from the William Mark Corporation.
Suitable for ages 8 and older.

FEATURES

Watch the amazing Mini X-zylo gyroscope fly to an incredible
150 feet as it's launched from the X-Launcher!
Plastic launcher with foam grip handle.
Twist while pulling back on the launch pad, then let it go!
You can even throw the Mini X-zylos by hand! Or catch one
with the back end of the launcher.
The Mini X-zylo weighs less than an ounce yet obtains superb
flight characteristics similar to that of a bi-winged plane!
Flight instructions included.